CIBC Classic VISA credit card reviews

The credit limit of the CIBC Classic Visa starts at $500. Requirements toward cardholders include a minimum household income of $15,000 per annum, and holders enjoy numerous benefits. Some of these are no annual fee, an annual interest rate of 19.9 percent on purchases charged to the card, and 21.5 percent on convenience checks, cash advances, and balance transfers. Those who are approved for the card will get up to three additional cards for free.

The Classic Visa by CIBC entails the additional benefit of CIBC CreditSmart - a wide variety of credit management features at no extra charge. You will take advantage of customized and innovative tools and services, allowing you to better manage and organize your expenses. The level of security is simply top-of-the-line in Canada. Two examples of this are the CIBC CreditSmart Fraud Alerts and Identity Theft Assistance. ?he first option ensures that you will be alerted about possible unauthorized use of your card by e-mail. The second provides you with quick access to instructions on what to do if you think you are the victim of identity theft.

Tools and services that facilitate the easy organization of your spending include an enhanced monthly statement and spending report. These help you track and manage your expenses. Thanks to this tool, the client obtains a detailed view of his or her expenses.

You can also customize your monthly budget and make a spending plan online. The CreditSmart spend alerts fulfill the purpose of notifying you if you are about to exceed the budget or credit limit. The CreditSmart Credit Report Alerts keep you updated on important changes to your personal credit report, for example, in the event of unusual activity on your credit account.

The CIBC Classic VISA Card is the best choice for people who seek the convenience of a credit card on a daily basis and a financial product with no annual fee. Additional benefits of the Classic Visa include $100,000 carrier accident insurance, 20 percent off on car rental at AVIS participating stores, cash advances of as much as $1,000 per day, emergency replacement if the card is lost or stolen, free convenience checks, acceptance at more than 24 million locations worldwide, and insurance on personal items that have been lost, damaged or stolen within 90 days of the buying date if the items have been charged in full to the card. Finally, you can take advantage of extended protection insurance, which is twice as long as the original Canadian warranty.

The TD Emerald Visa Card by TD Canada Trust is a similar financial product you might want to look at and compare. The card goes with a low interest rate equal to the TD prime rate, plus 9.75 percent and 1.75 percent of the prime rare. With a prime rate of 3 percent, the current preferred rate ranges from 4.75 percent to 12.75 percent. The annual fee is just $25. While the budget rent a car preferred rates are an included benefit, optional products include the Deluxe and Standard TD Auto Club, Balance Protection Insurance, and Travel Medical Insurance. The chip enabled technology guarantees one’s peace of mind, thanks to the use of PIN. Finally, the Visa payWave Technology helps card holders charge small purchases directly to their credit cards.